India’s defence production projected to jump 6-fold to Rs 8.8 lakh crore in 2047

The country’s defence production is expected to surge over six-fold to Rs 8.8 lakh crore in 2047 from Rs 1.46 lakh crore in 2024-25, according to a report compiled by the Confederation of Indian Industry (CII) and KPMG India.

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India’s annual defence budget could increase around five-fold to Rs 31.7 lakh crore in 2047, from Rs 6.81 lakh crore currently allocated for financial year 2025-26.

The report — titled “Atmanirbhar, Agrani, and ‘Atulya Bharat 2047” — released at the CII annual business summit here, estimates India’s defence exports to rise to Rs 2.8 lakh crore in 2047, which represents a nearly 12-fold jump compared to the corresponding figure of Rs 24,000 crore for 2024-25.

The report pegs the country’s total defence expenditure at 4.5 per cnet of GDP for 2047, up from 2 per cent of GDP at present.